A demo recording of you doing voice-over work is your CV and your business card combined. If you're applying for a voice-over job, you can send the potential customer your demo via the Internet. Ideally you have multiple demos for different types of gigs. For commercials, clients want to hear 60 to 90 seconds of voice work. If you're auditioning as an audiobook reader, five minutes of demo proves that you can stay in character over a longer stretch of time.
As editor, you need to turn the raw recording into the final version of the file you'll be sending to your client. Editing during a recording session can be problematic, and particularly so if you're recording in a domestic environment. How can you expect to hear the drone of the dishwasher ruining your recording if the dishwasher is still running as you edit? I'll look in more detail at setting up a voiceover recording studio next time, but for now, if recording in a separate room or isolated booth isn't an option, at least try to edit the file the following morning (or maybe at night) when there's less noise around — because hearing your recording with a fresh ear and in a quieter environment will help you to make better editing decisions, and will reveal noises that slipped your attention earlier.